Belgium demands that other EU states share the risk. The government in Brussels is demanding written guarantees from all countries that hold Russian assets – including Germany, France, Sweden and Cyprus.
Germany rejects EU debt
Germany and other countries reject von der Leyen‘s alternative idea of new common EU debt for Ukraine. Chancellor Friedrich Merz supports the basic concept of asset utilization. In a guest article, he described the proposal as a signal of European independence.
Despite Belgian objections, Federal Foreign Minister Johann Wadephul was optimistic: “The problems can be solved.” Germany announced an additional $200 million for US arms purchases for Ukraine and 25 million euros for a NATO trust fund.
The federal government is keeping secret how much Russian central bank money Germany manages itself. Diplomats estimate the amount to be in the three-digit million range. Matthias Schepp, Chairman of the German-Russian Chamber of Commerce Abroad, warned: “Germany has invested in Russia like no other country. “It therefore has the most to lose from the planned use of Russian central bank funds for arms purchases for Ukraine.” German assets in Russia exceed 100 billion euros.
Decision in two weeks
EU heads of state and government are expected to reach an agreement at the summit in Brussels in two weeks. The concept stipulates that Ukraine only has to repay the loan if Russia pays reparations after the end of the war. If the frozen funds were unexpectedly released – for example through international court rulings – the EU states would only have to provide guarantees.
Note: This article was created using Artificial Intelligence (AI).